introduction to economics
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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economics | show 🗑
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show | land, labour, capital and enterprise
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land | show 🗑
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show | people available. income=wages
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capital | show 🗑
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enterprise | show 🗑
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economic system | show 🗑
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show | government makes all the decisions about the production of goods e.g past=china today=cuba
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free enterprise economy | show 🗑
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show | combination of a centrally planned and a free enterprise economy e.g Ireland
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show | gross national product
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economic growth | show 🗑
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show | change in production multiplied by 100
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production in year 1 1
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show | new jobs, people have more money to spend, money for government to use on education and health
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show | inflation kept low, interest rates kept low, wages increase, government budgets well
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inflation | show 🗑
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show | increase in cost of living multiplied by 100
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cost of living in year 1 1
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CPI | show 🗑
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causes of inflation | show 🗑
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show | loss of jobs, goods harder to sell abroad
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Created by:
paulinebiron
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